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The coronavirus in China

The coronavirus in China | 28 January 2020

28 January 2020, GBP/USD

GBPUSD trading plan:

Measures taken by China to contain the virus look increasingly likely to have an impact on economic output, something that may reverberate through the world more than similar measures to stop the SARS epidemic in 2003. The death toll from the outbreak in China rose to 106 on Tuesday and a small number of cases linked to people who traveled from Wuhan have been confirmed in more than 10 countries, including Thailand, France, Japan and the United States. This is a negative factor for the British currency! Traders take profits on short positions in the oil market which can have a positive impact on the value of the pound. The British currency and black gold correlate with each other.

Trading recommendation: range 1.3030 -1.3080.

David Johnson
Analyst of «FreshForex» company
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